Options: OEX, SPX or SPY?...QQQQ or NDX?...best to daytrade?

Quote from sugar:

I'm trading ES vertical spreads and naked options with Interactive Brokers.
More...

I noticed that there are options expiring every week - which ones do you usually choose? What fills are you getting - buying spread that has 10.0/11.0 bid/ask, what is a realistic fill?
 
I only trade serial and quarterly options (ES) Occasionally I can take an EOM trade (EW) but it's harder take a good fill. Weekly options (EW1, EW2,..) are not for me.

With ES and 10/11 bid/ask 10.50 it's not so strange, but it depends of market swings.

Summarizing, I've accomplished better trades with ES options than with the SPY ones.

Regards
 
Quote from sugar:

I only trade serial and quarterly options (ES) Occasionally I can take an EOM trade (EW) but it's harder take a good fill. Weekly options (EW1, EW2,..) are not for me.

With ES and 10/11 bid/ask 10.50 it's not so strange, but it depends of market swings.

Summarizing, I've accomplished better trades with ES options than with the SPY ones.

Regards
More...
How did you get the screen that you attached?
Thanks again for your help.
 
Quote from sugar:

Few seconds ago screenshot... you'll see.
More...

How do you track those trades? I'm using MSNStockQuote in excel for tracking, but I wasn't able to find those options in MSN Money.
 
Quote from sugar:

IB's TWS
More...

So basically trading those spreads is similar to RUT or SPX? You prefer them for better liquidity?

One technical question: in IB, ES pop-up window gives three choices for Combinations: Futures Spreads (SMART), Futures Spreads (Directed) and Future Option Combos (Directed). Which one do you choose? It’s different from RUT, so I’m a bit confused.
 
Quote from akivak:

So basically trading those spreads is similar to RUT or SPX? You prefer them for better liquidity?
More...
Yes, but don't forget electronic trading.

Quote from akivak:

One technical question: in IB, ES pop-up window gives three choices for Combinations: Futures Spreads (SMART), Futures Spreads (Directed) and Future Option Combos (Directed). Which one do you choose? It’s different from RUT, so I’m a bit confused.
More...

Future Option Combos (Directed)

Too late, good night from Spain.
 
I understand that ES option multiplier is 50, correct? So I would need twice as many contracts compared to SPX. Since it is direct routing, the commissions are $1.81 compared to $0.7 for SPY or SPX.

If ATM calendar spread is around $10, to invest $1,000 I would have a choice of:
10 SPY contracts - $7 commissions.
1 SPX contract - $1 commissions.
2 ES contracts - $3.6 commissions.

The commissions savings in ES are much less compared to SPX.
 
You must log in or register to reply here.
Back
Top